Doing Business in an Emerging Economy
Business In The Emerging Economy
The Africa consumer market is expected to grow by $400 billion USD to reach $2 trillion USD by 2020, this was stated in an article by McKinsey & Company -a trusted advisor and counselor to many of the world’s most influential businesses and institutions. However, “countries that will be successful in 2017 are the countries which are diversifying their economy,” says Richard Attias, a consultant and former producer of the World Economic Forum in Davos.
In view of the above, you would agree us that the need for credible data is key for any economy to correlate this forecast with Economic Growth? Nigeria and most African countries are regarded as the emerging economies because of the great potential for economic growth and development. Although, Africa is still urbanizing and much of the economic benefit lies ahead, Nigeria remains an investor’s dream destination.
Yes, you read that correctly…African economies are still abysmally categorized with such adjectives as potential for economic growth and development; this is obviously the reason behind the clamour for economic diversification and the ultimate search for opportunities to invest in Africa by Investors and other top foreign agencies/organisations but lack of reliable data sometimes hinder their business decisions. Investors need to know which resources are available in a region before investing their money. Will these investments payoff, or are the potential risks too great? Is the region politically stable? What is the regional pedigree with respect to change? Is change embraced or prosecuted? These are some of the questions accurate data analysis can address. Investing in these emerging markets requires a careful analysis of potential risks and benefits which vary greatly from country to country and even from day to day.
A donor’s perception on how it’s contributions are changing lives will ultimately be tied to credible data. Due to discrepancies and unreliable data, government sometimes find it difficult to ascertain the impact or efficiency of its existing programmes and policies. So yes, the need for business insights and super-informed decisions has led to many market research start-ups and their related products driven by 21st century technology. One of such establishments is Getjama - www.getjama.com .
Getjama presents the best of such products in Africa — JAMA; an innovative data gathering solution that leverages on the power of 70 million mobile phones in Nigeria to deliver real time business insights, whilst providing a platform for participants (Jammers) to earn redeemable rewards. JAMA is a transformational platform that helps businesses answer the questions that they need answers to. We believe in the power of mobile phones as an effective tool of communication in the emerging markets.
So if you are thinking of introducing a new product or plan to invest in this growing economy, you need not worry about your welcome party, JAMA will ensure it has all the elements of a royal receptions. Among other things, JAMA will help you gather opinions on new products and services providing you the required insights to launch your product or service.
So get in touch. Send an email to sales@getjama.com
